Market Overview

Marathon Oil Announces Public Offering of Senior Notes


HOUSTON, Oct. 24, 2012 (GLOBE NEWSWIRE) -- Marathon Oil Corporation (NYSE: MRO) announced today that it intends to offer, subject to market and other conditions, two series of senior notes in an underwritten public offering. 

Marathon Oil intends to use the net proceeds of the proposed offering to repay outstanding commercial paper obligations and for general corporate purposes.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, RBS Securities Inc. and UBS Securities LLC are acting as joint book-running managers for the proposed offering. When available, copies of the preliminary prospectus supplement relating to the offering may be obtained from the underwriters as follows:

Citigroup Global Markets Inc.
c/o Broadbridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: 1-800-831-9146
Morgan Stanley & Co. LLC
180 Varick Street
New York, NY 10014
Attention: Prospectus Department
Phone: 1-866-718-1649
J.P. Morgan Securities LLC
383 Madison Avenue
New York, NY 10179
Attention: High Grade Syndicate Desk
3rd Floor
Phone (collect): 1-212-834-4533
RBS Securities Inc.
600 Washington Boulevard
Stamford, CT 06901
Attn: Debt Capital Markets Syndicate
Phone: 1-866-884-2071
UBS Securities LLC
299 Park Avenue
New York, NY 10171
Attention: Prospectus Specialist
Phone: 877-827-6444 ext. 561 3884

The notes will be offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

This press release includes forward-looking statements. Forward-looking statements give Marathon Oil's current expectations or forecasts of future events based on assumptions and estimations that management believes are reasonable given currently available information. Forward-looking statements in this press release relate to, among other things, the offering of the notes and use of proceeds. Information about risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements is available in Marathon Oil's filings with the SEC.

Marathon Oil Corporation is an independent international energy company. Based in Houston, Texas, Marathon Oil had net proved reserves at the end of 2011 of 1.8 billion barrels of oil equivalent in North America, Europe and Africa.

CONTACT: Media Relations Contacts Lee Warren: 713-296-4103 John Porretto: 713-296-4102 Investor Relations Contacts Howard Thill: 713-296-4140 Chris Phillips: 713-296-3213
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